Form 1099-K

If you have received a Form 1099-K, it is based on your activity with one or more of Dwolla’s customers that uses the Dwolla Platform to process their payments.

Dwolla issues 1099-K forms for transactions within our network that exceed certain federal or state reporting thresholds. For the 2022 tax year, the federal threshold for reporting is $600 (down from the $20,000 threshold in 2021).

Dwolla will send a Form 1099-K, with the name “Dwolla, Inc.” displayed on the form, to your end users who meet the federal/state transaction and/or dollar amount threshold.

If you are an end user of a Dwolla Client and have met the federal reporting threshold or the reporting threshold of your state, you can follow this link to fill out the required W9 form needed.

Many states also require that we file 1099-Ks with the state taxing authorities. Each state sets its own reporting threshold.

    • Vermont – $600 USD in gross payments within a calendar year.
    • Maryland – $600 USD in gross payments within a calendar year.
    • Virginia – $600 USD in gross payments within a calendar year.
    • Massachusetts – $600 USD in gross payments within a calendar year.
    • Mississippi – $600 USD in gross payments within a calendar year.
    • District of Columbia – $600 USD in gross payments within a calendar year. 
    • New Jersey – $1,000 USD in gross payments within a calendar year.
    • Missouri – $1,200 USD in gross payments within a calendar year.
    • Arkansas – $2,500 USD in gross payments within a calendar year.
    • Illinois – 4 or payments within a calendar year of more than $1,000 USD.

Dwolla will send an official list of qualifying end users to each of our Clients for them to reach out to end users as well.

For any questions regarding Form 1099-Ks, please contact us at support@dwolla.com.